Arnhold LLC Purchases 2,377 Shares of Braze, Inc. (NASDAQ:BRZE)

Arnhold LLC increased its position in shares of Braze, Inc. (NASDAQ:BRZE) by 45.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,655 shares of the company’s stock after acquiring an additional 2,377 shares during the period. Arnhold LLC’s holdings in Braze were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley increased its holdings in shares of Braze by 20.1% in the 3rd quarter. Morgan Stanley now owns 5,387,736 shares of the company’s stock worth $251,769,000 after buying an additional 899,894 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Braze by 180.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,285,100 shares of the company’s stock valued at $60,053,000 after purchasing an additional 826,100 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Braze by 167.5% during the 3rd quarter. Invesco Ltd. now owns 1,293,974 shares of the company’s stock valued at $60,467,000 after purchasing an additional 810,295 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Braze during the 3rd quarter valued at $12,794,000. Finally, Federated Hermes Inc. bought a new position in shares of Braze during the 3rd quarter valued at $12,373,000. Institutional investors own 90.47% of the company’s stock.

Insider Buying and Selling at Braze

In other Braze news, insider Myles Kleeger sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now directly owns 244,291 shares in the company, valued at approximately $13,914,815.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Susan Wiseman sold 2,838 shares of Braze stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $57.52, for a total value of $163,241.76. Following the completion of the sale, the general counsel now directly owns 206,358 shares in the company, valued at $11,869,712.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Myles Kleeger sold 15,000 shares of Braze stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $56.96, for a total transaction of $854,400.00. Following the completion of the sale, the insider now owns 244,291 shares of the company’s stock, valued at $13,914,815.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,815 shares of company stock worth $4,164,679. 26.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on BRZE. TD Cowen reduced their target price on shares of Braze from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Raymond James reduced their target price on shares of Braze from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. UBS Group raised shares of Braze from a “neutral” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and set a $75.00 price target on shares of Braze in a research report on Thursday, March 28th. Finally, DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of Braze in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.12.

Braze Price Performance

NASDAQ BRZE traded down $1.34 during trading hours on Tuesday, reaching $41.90. 1,112,211 shares of the company’s stock traded hands, compared to its average volume of 850,376. Braze, Inc. has a 52-week low of $25.76 and a 52-week high of $61.53. The firm has a market cap of $4.23 billion, a PE ratio of -32.23 and a beta of 1.14. The firm has a 50-day simple moving average of $48.33 and a 200 day simple moving average of $50.54.

Braze (NASDAQ:BRZE) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.02. The business had revenue of $130.96 million during the quarter, compared to analyst estimates of $124.55 million. Braze had a negative net margin of 27.44% and a negative return on equity of 28.24%. Sell-side analysts forecast that Braze, Inc. will post -1.18 EPS for the current fiscal year.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.